The Western Australian Government has announced its intention to
introduce legislation within the next six months to amend the
State's Strata Titles Act.
This will have business implications for property developers and
financiers involved in residential and mixed use property
development projects in WA.
Following an extensive period of industry consultation, the
Government has confirmed that the current law will be changed in
the following key areas:
Two new types of strata title will be introduced: Community
Title and Leasehold strata schemes.
More flexibility for staged strata development.
New information to be given to buyers before they sign a strata
Streamlined resolution of strata disputes.
Enhanced regulation of strata managers.
Termination of strata schemes greater than four lots by at
least 75% majority of owners.
The new law is designed to support the Government's policy
of promoting flexible and sustainable housing options, and to meet
higher density living targets in Perth.
The draft legislation is still to be released. However,
developers of strata and mixed use projects in WA and their
financiers should be planning for the expected changes now.
Developers with also have new options for undertaking developments,
so now is the time for them to be reviewing their strategy for
new mixed use residential developments; and
redevelopments of existing strata buildings through a
collective sale process.
Clayton Utz communications are intended to provide
commentary and general information. They should not be relied upon
as legal advice. Formal legal advice should be sought in particular
transactions or on matters of interest arising from this bulletin.
Persons listed may not be admitted in all states and
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